04 February 2013

ARGENTINA / IMF : Cristina Freezes Prices...For 60 Days.

     Last week...Argentina was formally censured by the IMF for its dubious inflation figures.
     For years...Buenos Aires has claimed annual inflation rates of only 9%-11%...while economists have insisted the yearly rates have really approached...25%- 30%.
     Consumers have grown frustrated...and angry.
     Now...President Fernandez is freezing all prices in major supermarkets...for 2 months.
     Large foreign chains like Walmart and Carrefour must keep prices unchanged until 01 April.
     The government has set-up a hotline to report violations.